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Article: Florida may divest Siemens over its Iran business ties.(NEWS)
- Article from:
- Pensions & Investments
- Article date:
- August 10, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Barry B. Burr
Florida State Board of Administration, Tallahassee, identified Siemens AG for possible divestment in connection with business activity in Iran, according to a report released July 28 by the $124 billion board.
The FSBA holds $47 million of Siemens stock, all with external managers in active and indexed portfolios, Michael P. McCauley, senior corporate governance officer, said in a statement.
Siemens was placed on the FSBA's "continued examination list for possible divestment because RiskMetrics Group Inc., KLD Research & Analytics Inc. and the American Israel Public Affairs Committee research providers that the FSBA uses ...